I don't like this at all ... looks like my Golden Retriever with his tail up in the air just after she made her business ... anyway that's what I think. I'm sure the aftermarket fellows already designing something to cover up the ugly site between the pipes.

Drivers following this very expensive car will say .... look at that ... how can they let this happen to such a nice car.

The M5 has less than 4% more power than the Alpina B5. With numbers that close, the fact that they differ is all but arbitrary. The M3 will likely be lighter than the B3 though, and most probably have less lag too.

You might end up being right with your guess, but I am just saying that looking at the equivalent alpina isn't necessarily going to be a good indicator of what to expect.